Paul Heathcote has put plans for a new fine-dining restaurant in Manchester on hold because of the current economic climate.
The chef-restaurateur has postponed the launch of The Elliot restaurant, which was set to open in October, on grounds of a combination of a "problematic listed site, escalating costs and a nervous trading market due to the credit crunch".
Instead, he plans to focus his attention on his mid-market Olive Press portfolio, with a number of openings for the chain set for the North-west next year.
Heathcote said: "I have decided to postpone the opening of The Elliot in Manchester as I do not believe now is a good time for a high-end restaurant opening and there is more demand for Olive Press at the present time.
"The decision on The Elliot is the right one at the present time and I will re-consider this position at the start of the New Year."
Plans for The Elliot comprised a 70-seat restaurant with Champagne bar and private-dining room located in Manchester's city centre in the same building as Simply Heathcotes.
Refitting work had started on the ground floor of the former register office building.
By Kerstin Kühn
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